Startup valuation is a very nuanced topic. Everybody says it’s both an art and a science, and many smart people have written posts to try and articulate the method behind the madness. But at the end of the day, the value of a startup is the price at which founders and...

The power of startup equity is almost a myth in and of itself, with swirling stories of unicorns and overnight millionaires. In truth, startup equity is often misunderstood, misinterpreted, and sometimes founders granting startup equity are misinformed. The real...

For many startups, the short answer is “no.” Some startups can create their own 409A valuation report for $0 using a DIY 409A calculator we built. This calculator will build your entire report for you in about 5 minutes, but not every startup can or should use this...

In my career, there is one question I’ve answered more than any other. What is the difference between a 409A valuation and a venture capital (VC) valuation? I’d wager I’m one of the world’s top experts in answering this question (😂). I realize that’s kind of like...

What is a Forfeiture Rate? The forfeiture rate is the percentage of options that you expect to cancel in a year based on historical data. So for every single year in which options are granted, you have to estimate the forfeitures for the following four years. Most...

Experience. It’s what you’re paying for when you hire an attorney, your accountant, or even a plumber. And it’s no different when it comes to choosing a 409A provider for your company’s 409A valuation. Getting a 409A valuation is not the place to try...